Lloyds chief under pressure to rein in his annual bonus

Lloyds boss Eric Daniels is under mounting pressure to waive his bonus as the taxpayer-controlled lender prepares to unveil a multi-billion pound loss for last year.

After tapping taxpayers and the market for unprecedented sums, the Black Horse bank would anger City institutions if it pays its chief executive a penny more than his £1m basic salary.

One major investor believes shareholders would be 'very annoyed if Daniels gets a bonus' after playing a central role in the ill-fated takeover of HBOS in late 2008.

A meaty reward for Daniels would be especially controversial
given the example set by Barclays' top two executives

The toxic legacy of that deal is forecast to push Lloyds, now 41pc
owned by the taxpayer, into a headline pre-tax loss of £11bn.

A meaty reward for Daniels would be especially controversial
given the example set by Barclays' top two executives this week. Chief
executive John Varley and investment banking boss Bob Diamond declined
their bonuses for last year after calling on investors in the Middle
East for emergency handouts in 2008.